'Energy prices could and should be lower', but are retailers profiteering?
1 month, 1 week ago

'Energy prices could and should be lower', but are retailers profiteering?

ABC  

As Australia's biggest energy generators and retailers AGL and Origin report their profits results, there are calls for more to be done to reduce electricity and gas prices. In reporting its half-year results on Thursday, Origin attributed its 2 per cent profit increase to $1 billion to higher gas export prices offsetting lower earnings in east coast power markets. The federal government's $3.5 billion in energy price relief rebates for households and small businesses not only reduced electricity and gas bills, but have also been a key factor in lowering inflation. Call for better access to energy efficiency schemes AGL customer Chris Giannaras says instead of non-means tested energy rebates more effort should be put into helping people reduce their energy consumption.

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History of this topic

Rich in resources, but Australia's energy costs have tripled and manufacturers are hurting
2 months, 1 week ago

Rich in resources, but Australia's energy costs have tripled and manufacturers are hurting

ABC  

Australia has a wealth of coal and gas resources as well as renewable energy, so why are energy costs so high — especially for manufacturers? "Electricity prices have gone up threefold, gas prices have gone up fourfold, while the cost of renewable energy is not cheap," Orica managing director Sanjeev Gandhi said. "But new technologies like renewable hydrogen need time …

Electricity retailers label complex power prices 'perverse' as industry goes to war with itself
5 months, 3 weeks ago

Electricity retailers label complex power prices 'perverse' as industry goes to war with itself

ABC  

Australia's electricity retailers have lashed as "incredibly perverse" changes to the way people are charged for power that are leaving many with complex prices and higher bills. According to the AEC, the real problem is "network tariff reassignment", which occurs when a home is fitted with a smart meter and the poles-and-wires company starts charging the retailer cost-reflective tariffs at …

Energy retailers' 'insidious' power pricing charges households based on highest point of use
9 months, 3 weeks ago

Energy retailers' 'insidious' power pricing charges households based on highest point of use

ABC  

Hundreds of thousands of Australian households are being charged electricity prices based on their single biggest point of usage across an entire month, fuelling claims power firms are using sneaky tactics to gouge consumers. An investigation by the ABC has found that soaring numbers of residential electricity customers with smart meters are being put on to so-called cost-reflective tariffs such …

Winners and losers as energy regulator outlines mixed bag of power price changes
1 year ago

Winners and losers as energy regulator outlines mixed bag of power price changes

ABC  

In short: The Australian Energy Regulator has suggested modest decreases in benchmark power prices for some customers but increases for others. Following price hikes of up to 40 per cent in the past two years, the Australian Energy Regulator has proposed far more modest tweaks to the so-called default market offer. "We know that economic conditions have put pressure on …

AGL, Origin announce upcoming energy price rises for households, small businesses
1 year, 9 months ago

AGL, Origin announce upcoming energy price rises for households, small businesses

ABC  

The cost of keeping homes warm this winter is about to jump, with two major energy retailers confirming bills will soon rise hundreds of dollars per year. Key points: AGL and Origin Energy announce energy price rises Prices will rise between 20 and 29 per cent from July and August The retailers say increased wholesale electricity prices are mainly to …

Electricity retailers raise fixed charges to recoup costs after record highs in spot market
2 years, 7 months ago

Electricity retailers raise fixed charges to recoup costs after record highs in spot market

ABC  

Natalie, from Tweed Heads in northern New South Wales, has cut her electricity usage to the bare minimum. "I understand everyone is getting a price increase," she said, "but it just feels a little bit unfair that they've put so much on the daily rate. The New South Wales Energy and Water Ombudsman, Janine Young, said every customer would be …

Explained | Why is Australia facing an electricity crisis despite being a top exporter of coal and gas?
2 years, 9 months ago

Explained | Why is Australia facing an electricity crisis despite being a top exporter of coal and gas?

The Hindu  

The story so far: On Thursday, June 16, Chris Bowen, the Energy Minister of Australia — the world’s biggest exporter of coal and Liquified Natural Gas — asked the residents of its most populous state New South Wales, to conserve power as much as possible during the peak demand hours of 6 pm to 8 pm to prevent blackouts. This …

Australia's energy ministers have an 11-point plan. Here's why it won't ease prices any time soon
2 years, 9 months ago

Australia's energy ministers have an 11-point plan. Here's why it won't ease prices any time soon

ABC  

Australia's surging power prices have been hit by the "perfect storm", and that's being felt in households around the country. But an 11-point plan from Australia's energy ministers released after meeting on Wednesday isn't going to ease prices any time soon, with federal Energy Minister Chris Bowen saying there's no "silver bullet". A cold snap, rising fuel prices thanks to …

There's not much more any government could or should do, says Resources Minister on gas prices, while eyeing industry trigger
2 years, 9 months ago

There's not much more any government could or should do, says Resources Minister on gas prices, while eyeing industry trigger

ABC  

Federal Resources Minister Madeleine King has warned there may be little the government can do to reduce soaring wholesale gas prices in the short-term. Key points: Ms King is seeking more gas supply into the domestic market She says chief executives were working in good faith The federal government is still considering whether to pull the so-called gas trigger Ms …

Calls for competition watchdog to step up policing as energy crisis sparks price gouging fears
2 years, 9 months ago

Calls for competition watchdog to step up policing as energy crisis sparks price gouging fears

ABC  

A leading Australian energy lawyer says big power providers are facing increased scrutiny from the competition watchdog amid concerns a shake-out of the industry could lead to price gouging. Key points: A top energy lawyer says the ACCC is likely to increase its scrutiny of energy pricing as competition diminishes There are fears soaring wholesale power costs could wipe out …

Australia's gas crisis is worse than you might think. Industries warn thousands could lose their jobs and consumers will pay more
2 years, 9 months ago

Australia's gas crisis is worse than you might think. Industries warn thousands could lose their jobs and consumers will pay more

ABC  

Australian manufacturers facing massive increases in gas prices are warning they could be forced to shut, with tens of thousands of jobs on the line. Key points: Spot gas prices have quadrupled, putting pressure on energy-intensive businesses Industry groups are calling for federal government intervention Affected businesses say potentially thousands of jobs are on the line Gas prices on the …

Amid soaring energy costs, businesses fear for their future if something doesn't change
2 years, 9 months ago

Amid soaring energy costs, businesses fear for their future if something doesn't change

ABC  

Australian businesses are warning they will collapse if a long-term plan is not implemented to mitigate soaring gas and electricity costs. Key points: Australian businesses warn they will collapse without a long-term plan to mitigate soaring energy prices New Energy Minister Chris Bowen has cautioned Australia is on the precipice of a gas crisis It comes as an Australian energy …

Australia on the 'precipice' of a UK-style energy crisis as soaring costs push retailers out
2 years, 9 months ago

Australia on the 'precipice' of a UK-style energy crisis as soaring costs push retailers out

ABC  

Australia is on the "precipice" of a UK-style energy crisis that could send many of its power retailers broke and fuel a surge of households unable to pay their bills, a leading expert has warned. Key points: There are warnings Australia could slide into a UK-style energy crisis where retailers go broke and energy poverty soars New Zealand-based provider ReAmped …

Power price spike 'just the start' as smaller energy retailers struggle with surging wholesale market
2 years, 9 months ago

Power price spike 'just the start' as smaller energy retailers struggle with surging wholesale market

ABC  

As Australians digested the news this week that benchmark electricity prices are set to rise by as much as 18 per cent, Bruce Mountain had a worrying thought. Small retailers 'to go bust' Most ominously, Mr Mountain said wholesale power costs that had risen 141 per cent in the 12 months to the end of March were threatening to send …

Power prices to surge up to 18.3 per cent as energy market turmoil flows through to households
2 years, 10 months ago

Power prices to surge up to 18.3 per cent as energy market turmoil flows through to households

ABC  

Millions of Australian households are set to be hit by soaring electricity costs after the energy industry watchdog increased key prices by hundreds of dollars a year. Key points: Benchmark electricity prices will rise up to 18.3 per cent under a decision by the Australian Energy Regulator Increases to the so-called default market offers will amount to hundreds of dollars …

Australian gas producers rake in profit windfall as global energy crises send prices rocketing
3 years, 5 months ago

Australian gas producers rake in profit windfall as global energy crises send prices rocketing

ABC  

Energy crises in Europe and Asia are delivering windfall profits to Australian oil and gas producers, which are raking in up to $200 million for shipments of gas. Key points: Australian gas producers are making up to $200 million on single cargoes of liquefied natural gas Energy crises in Europe and Asia are driving gas markets to record highs ahead …

Gas exports blamed for soaring electricity prices and job losses
5 years, 10 months ago

Gas exports blamed for soaring electricity prices and job losses

ABC  

Australians are reeling from electricity prices that have soared more than 130 per cent since 2015. Key points: Analysts say gas prices determine the marginal cost of electricity on the east coast, meaning it is responsible for recent price rises Gas prices in Australia were $4 a gigajoule in 2015 before spiking to nearly $20 two years ago, and $10 …

How China's push for cleaner air is pushing up Australian power prices
6 years, 4 months ago

How China's push for cleaner air is pushing up Australian power prices

ABC  

Amid the finger pointing and theorising about Australia's rising power prices, there's one culprit often missing from the list: China's determined drive to improve its air quality. Key points: NSW coal generation costs have risen 75pc since 2015, roughly inline with export price movements NSW coal generators are becoming increasingly important price setters in the NEM Renewables growth will push …

AGL full year profit almost trebles on higher electricity prices
6 years, 7 months ago

AGL full year profit almost trebles on higher electricity prices

ABC  

Energy generator and retailer AGL has reported a near trebling of full year profit, a result supported by higher power prices and favourable hedging contracts. Key points: AGL profit surges 194pc on higher prices and a big gain on loss making hedging contracts Shares tumble on a flat outlook and loss of earning momentum AGL CEO Andy Vesey urges support …

Origin Energy offers small discount, after hiking power bills by 15pc last year
6 years, 9 months ago

Origin Energy offers small discount, after hiking power bills by 15pc last year

ABC  

Origin Energy has announced it will cut the power bills of customers in south-east Queensland and South Australia from July 1 — despite introducing double-digit price hikes last year. Origin Energy will cut the electricity bills of customers in some states, despite hiking prices last year. "Customers have felt the pinch of higher electricity prices and while this is a …

Victoria's 'unusually high' electricity, gas prices should be reregulated, review finds
7 years, 7 months ago

Victoria's 'unusually high' electricity, gas prices should be reregulated, review finds

ABC  

Victorians are paying, on average, 21 per cent more than the cheapest price on offer for electricity and gas, according to a bipartisan review into the state's electricity and gas retail markets that recommends regulating power prices again, eight years after they were deregulated. The recommendation is one of 11 measures put forward to drive down prices, protect consumers and …

British Gas is digging its own grave with its new price increase
7 years, 7 months ago

British Gas is digging its own grave with its new price increase

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. British Gas is hiking electricity prices …

Politics blog: Federal Government to stop gas going offshore in bid to cut power bills
7 years, 9 months ago

Politics blog: Federal Government to stop gas going offshore in bid to cut power bills

ABC  

Prime Minister Malcolm Turnbull has announced the Federal Government will intervene to restrict gas exports in a bid to reduce electricity costs. This was flagged by the Government earlier this year and the export restrictions could force producers to boost supply for Australian users before they are allowed to export. This announcement may have been shadowed, but it tells us …

Origin announces energy price hikes for customers in SA, NSW and Queensland
7 years, 9 months ago

Origin announces energy price hikes for customers in SA, NSW and Queensland

ABC  

A third major energy retailer, Origin Energy, has announced double-digit electricity price increases in South Australia and New South Wales from next month. Origin's electricity tariff for residential customers in South Australia will rise by 16.1 per cent from July 1, while the tariff for small businesses will increase by 18 per cent. Electricity tariffs for both business and residential …

Energy watchdog issues price warning to retailers of household gas, electricity retailers
7 years, 11 months ago

Energy watchdog issues price warning to retailers of household gas, electricity retailers

ABC  

Governments should be open to the idea of the "nuclear option" of re-regulating household gas and electricity prices if retailers do not improve their offering to consumers, the head of Victoria's energy watchdog says. Essential Services Commission chairman Ron Ben David said price re-regulation should only be implemented if other regulatory measures fail to tip the market in favour of …

Electricity prices could double with new coal-fired stations, energy experts say
8 years, 1 month ago

Electricity prices could double with new coal-fired stations, energy experts say

ABC  

Power prices for consumers could double, not fall, if new coal-fired power stations are built, according to energy experts. Key points: Australian Industry Group says new coal comparable in price to wind and solar Bloomberg estimates electricity prices from new coal power stations could rise to $160 per megawatt hour Ai Group says coal a much worse alternative than gas …

Big electricity retailers marking up costs by $650 a year in South Australia, GetUp says
8 years, 7 months ago

Big electricity retailers marking up costs by $650 a year in South Australia, GetUp says

ABC  

Activist group GetUp has accused electricity retailers of adding big margins and mark-ups to South Australian power bills. GetUp said AGL, Origin Energy and Energy Australia were charging South Australians a mark up of $650 each year, about twice what customers were paying for the actual generation of the electricity. Retailers blame rising wholesale costs AGL, Origin Energy and Energy …

Gas prices in Australia double those of exports
8 years, 7 months ago

Gas prices in Australia double those of exports

ABC  

The key ingredient in essential everyday items - from milk bottles and waste bins to eskies and pipelines - is made in a factory just outside Melbourne. "We've had the Gladstone LNG projects come online, we've got a collapse in the oil price which means exploration isn't taking place and then we've got these moratoriums on onshore gas development preventing …

SA Government calls on commission to investigate if electricity price rises
8 years, 9 months ago

SA Government calls on commission to investigate if electricity price rises

ABC  

AGL, Origin Energy, and Energy Australia could be investigated to see if reasons given for a spike in South Australian electricity prices rise can be justified, the State Government says. "These electricity price increases from AGL, Origin, and Energy Australia add significantly to cost of living pressures on affected customers," Mr Koutsantonis said. "In light of the community concern over …

Origin Energy announces 6.5 per cent price hike for SA customers, blames coal, gas supply issues
8 years, 9 months ago

Origin Energy announces 6.5 per cent price hike for SA customers, blames coal, gas supply issues

ABC  

Power company Origin Energy has followed in AGL's footsteps, announcing it will increase its electricity and gas charges for South Australian customers from July 1. Yesterday AGL revealed its prices would rise by about 10 per cent for South Australian customers, working out to be about $230 extra per year. "Changes to the electricity generation mix in South Australia has …

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